Prince Pipes & Fittings Ltd., incorporated in the year 1987, is a Small Cap company (having a market cap of Rs 3104.38 Crore) operating in Plastics sector.
Financials
For the quarter ended 30-09-2020, the company reported a Standalone sales of Rs 458.66 Crore, up 51.63 % from last quarter Sales of Rs 302.48 Crore and up 6.86 % from last year same quarter Sales of Rs 429.23 Crore Company reported net profit after tax of Rs 46.57 Crore in latest quarter.
Investment Rationale
The brokerage maintains BUY rating on the stock with a revised target price of Rs400 (earlier: Rs334), valuing it at 25x Sep’22E earnings (30%/45% discount to the multiples assigned to SI/ASTRA respectively).
Promoter/FII Holdings
Promoters held 63.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 7.3 per cent, DIIs 11 per cent and public and other 18.4 per cent.
